Given the above and my IT upwards oriented bias I will go long today after a probable initial sell off of 10-15 points. My favorite level to go long is 1060 on the ES but I will adjust depending on where the market opens. I expect a move up above 1100, more precisely to 1128 on the cash index.
Why 1128 as target? Well, for now I will just say this:
click to enlarge
10 comments:
nice call. it didn't sell-off though.
JJ
Nice call! How is put/call ratio things work? High wining percentage?
Indeed JJ. This market keeps running away from me :)
tellzhang,
The put/call is very reliable in my experience but a lot of flexibility is needed in intrepreting it.
It is more about the way it moves in relation to the market than the levels it reaches.
many thanks! I guess there is NO sure indicator out there...
by the way, where you get chart of p/C ratio?
By the way, you have nice blog! Will visit again! good work!
thanks
i got the data from the CBOE site. It is free. I used MS Excel to manipulate it.
link for data: http://www.cboe.com/data/putcallratio.aspx
you can also see the chart of the put/call ratio for free at:
http://stockcharts.com/h-sc/ui?s=$CPC&p=D&yr=0&mn=6&dy=0&id=p56330184321
thanks again!
Will visit your blog daily!
one stupid question: Why you use $CPC chart, but not $CPCE,or $CPCI?
Sorry for the dumb question...
it's not a dumb question. i found out that $cpc works better. maybe because traders use both index and equity options to manage their exposure to the market
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